Electric vehicles exports from China surge to record on European demand
Exports of electric vehicles from China more than doubled in November, creating a monthly record, mostly fueled by European carmakers that farmed out the production to the country.
Car manufacturers in China exported $3.2 billion worth of electric vehicles in November, up 165 percent from a year ago to reach the highest-ever monthly total, data from the nation’s customs authority showed. European countries like Belgium and England were the biggest importers, taking up nearly 70 percent of the shipments.
Exports of electric passenger vehicles accounted for more than half of the total car shipments for two months in a row, with November registering a record high of $6 billion in exports.
The numbers come at a time when European carmakers, including Volkswagen AG and BMW AG. aim to make parts and cars inside China due to limited production capacity at their home markets.
SAIC Motor Corp., the Chinese owner of the British brand MG Motors, has also expanded its distribution network to sell electric vehicles in Europe through imports. Tesla Inc. shipped more than 37,000 cars from China last month, after exporting only 60 in March and none in April, when it halted assembly due to the lockdown in Shanghai.